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For Nov. 24, 2015, here's the top stock market news and stocks to watch based on today's market moves…
How Did the Stock Market Do Today?
S&P 500: 2,089.14; +2.55; +1.49%
Nasdaq: 4,984.62; +56.73; +1.15%
The Dow Jones Industrial Average today (Tuesday) added 19 points on news of a stronger than expected third-quarter GDP report. The news offset news consumer sentiment, which hit its lowest level in 14 months. This morning, the U.S. Commerce Department announced the economy grew by a faster pace in the third quarter than previously expected. The third-quarter GDP revision showed an increase of a 2.1% annual pace, beating last month's estimate of 1.5%. Despite the positive gain, investors should be wary of the fact that inventory levels are accelerating.
Top Stock Market News Today
- Stock Market News: Five of 10 S&P sectors saw gains on Tuesday, with energy stocks and materials stocks showing the strongest gains. The largest decliner on the day was the telecom sector. Gold prices were up on geopolitical concerns related to the attack on a Russian warplane in Turkey.
- Oil in Focus: Oil prices saw strong gains on concerns about geopolitical tensions in the Middle East. This morning, a Russian warplane was shot down near Turkey, raising the stakes on how the international community deals with ISIS. January WTI prices were up 2.9%, trading at $42.97 per barrel. Meanwhile, Brent oil crude – priced in London – added 3.1% to hit $46.24. High-volume stocks Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX) added 2% and 1.5% on the day, respectively. Shares of Kinder Morgan Inc. (NYSE: KMI) were up 3.1%.
- On Tap Tomorrow: On Wednesday, the economic calendar shifts due to the markets being closed on Thursday in observance of the Thanksgiving holiday. Tomorrow's schedule features an update on weekly jobless claims, new home sales, the EIA Petroleum status, and durable goods. Companies set to report quarterly earnings include Deere & Co. (NYSE: DE) and Donaldson Co. Inc. (NYSE: DCI).
Stocks to Watch: FDX, XRX, TWTR, AAL, UAL, DAL, PCLN, TRIP, AVP, C
- Stocks to Watch No. 1, FDX: Shares of FedEx Corp. (NYSE: FDX) were up marginally on news the Federal Trade Commission has approved the shipping giant's proposed merger with Europe-based TNT Express. The deal has not been approved by the European Union, but the companies have said publicly that EU antitrust regulators plan to approve the deal.
- Stocks to Watch No. 2, XRX: Shares of Xerox Corp. (NYSE: XRX) are in focus on news activist investor Carl Icahn has purchased a 7% stake in the printer and copier manufacturer. The stake makes him the second-largest shareholder of the firm. Now here's the bigger question: Is Carl Icahn going to purchase Twitter Inc. (NYSE: TWTR)?
- Stocks to Watch No. 3, AAL: The U.S. State Department issued a global travel alert for Americans, which punished stocks in the travel sector. Airline stocks slumped on the news. United Continental Holdings Inc. (NYSE: UAL) dipped 3%, American Airlines Group Inc. (Nasdaq: AAL) fell 2.5%, and Delta Air Lines Inc. (NYSE: DAL) was off 3.1%. Meanwhile, Priceline Group Inc. (Nasdaq: PCLN) and Tripadvisor Inc. (Nasdaq: TRIP) were both off about 2%.
- Stocks to Watch No. 4, AVP: Shares of Avon Products Inc. (NYSE: AVP) jumped more than 16% on news the company received an upgrade from "Hold" to "Buy" from Citigroup Inc. (NYSE: C). The investment bank set a price target of $5 per share, which represented a more than 70% jump from levels prior to the release of its report.
What Investors Must Know This Week
- Grab Double-Digit Gains from This Analyst "Fail"
- Three Game Changers Fueling a Natural Gas Rebound
- Brace Yourself for This $2 Trillion Global Disruption